This year’s International Women’s Day theme, Accelerate Action, is a reminder that we can’t slow down when it comes to breaking barriers and challenging biases. That’s why we have introduced our newest Energy series: Current Women. As a recruiter in Clean Energy, Jasmine Crane has seen how many women struggle to find role models who inspire them to pursue leadership and engineering roles. They often wonder if there’s a clear path forward. The truth is, there is—but we need to shine a brighter light on it. Current Women celebrates, amplifies and connects the voices of women in clean energy.

 

 

In an industry where women hold just 14% of leadership roles, it’s clear we need to do more to highlight the incredible women already leading, innovating, and driving change. Through Current Women, we aim to share interviews and features with female leaders, explore gender diversity in Clean Energy and create a space for peer nominations and recognition. In this episode, we interview Ramya Swaminathan, Board Member, Senior Advisor at Malta Inc.

Malta Inc is transforming the future of energy storage. The team has developed an innovative, utility-scale long-duration energy storage solution powered by steam-based heat pump technology. Using proven subsystems, a locally sourced supply chain, and abundantly available materials like salt, the system delivers economical, clean energy with a flexible power and heat delivery mix—available around the clock and without geological constraints.

 

Thank you for joining us as part of this series, Ramya. To start, can you give us an overview of Malta and its core mission in energy storage?

At Malta, we’re focused on solving a key challenge of the energy transition: enabling reliable, affordable, and scalable long-duration energy storage. The remarkable reality is that solar and wind power are now the cheapest forms of electricity generation — but they are intermittent. You can’t build a resilient grid on renewables alone without finding a way to do two things: (a) time-shift that generation and (b) ensure reliability on the grid.

Malta’s Steam Energy Management and Storage (SEMS) system addresses both needs. Our system uses a high-performance heat pump and steam as a working fluid to store energy as heat in molten salt, and then reconvert that energy into power and heat on demand. This allows us to provide flexible, dispatchable clean energy — from 8 hours to multiple days — at grid scale.

Beyond storing energy, Malta SEMS delivers grid stability through synchronous generation and inertia — the same attributes traditionally provided by fossil-fired plants, but without emissions. Our technology integrates seamlessly with industrial assets, energy-intensive facilities, and can even repurpose the infrastructure decommissioned of fossil-fired plants. We’re currently building Malta-D, our commercial demonstration project in Spain, to prove how this technology can accelerate decarbonization while supporting grid reliability and preserving local employment.

 

What recent projects or milestones at Malta are you most excited about?

I’m incredibly excited about Malta-D, our first commercial demonstration plant in Spain. It’s a pivotal step in proving our technology at scale.

 

What inspired you to transition from finance and investment banking into clean energy?

I grew up in India and the Philippines, where reliable access to electricity and clean water wasn’t always a given. Those formative years planted a seed: from early on in my career, I’ve been passionate about the reliable and affordable delivery of critical infrastructure services. My career began in finance, working on infrastructure financings across energy, transportation, and water. As the financial crisis of 2008 unfolded, I wanted to move beyond financing into building. That led me to co-found a hydropower development company and eventually to Malta, where I could bring transformational technology to market.

 

You led Malta’s spin-out from X (Alphabet’s Moonshot Factory)—what was that experience like, and what challenges did you overcome?

Anyone who’s worked in a startup knows that every day can feel like a defining moment. And when you found a company, you’re building a product, a market and a company, all simultaneously.  I was fortunate to have a wonderful technical team and strong support from Google X to ground those first days.  And at Malta Inc., I had a clear North Star: partnership. From day one, we made the decision to leverage existing industrial ecosystems rather than develop every piece of technology ourselves. That approach allowed us to partner with leading global industrial companies and accelerate development. Raising over $120 million, recruiting an exceptional and global team, and building a robust project pipeline have all been milestones I’m proud of.

 

As a leader in the sector, what skills or mindset shifts have been most critical to your success?

Adaptability and persistence. Hardtech takes time, and the road isn’t linear. You have to be resilient, willing to make tough decisions, and ready to learn continuously. And perhaps most importantly, you need to surround yourself with people who are smarter than you in their domains and build a culture of collaboration and trust.

 

 

current women interview Ramya Swaminathan, Board Member, Senior Advisor at Malta Inc

 

What has your experience been like as a woman in the energy sector? Have you faced any particular challenges, and how have you navigated them?

The energy sector has historically been male-dominated, and I’ve certainly found myself as the only woman in the room more times than I can count. But I’ve also found that showing up authentically, trusting my expertise, and not being afraid to ask questions has helped me navigate those spaces. Building strong networks of support and mentorship has been key.

 

You’re deeply involved in mentorship and advisory roles—what do you see as the biggest barriers for women in clean energy, and how can we break them down?

Visibility and access. So much of success is about seeing someone who looks like you doing the work you aspire to do. That’s why I’m deeply involved with organizations like the Department of Energy’s C3E Initiative and Women in Energy networks — they help create those connections and open doors. But beyond that, every one of us has a role to play by reaching out, mentoring, and making space for others.

 

What’s next for Malta, and what developments in energy storage excite you the most?

Bringing Malta-D to life is our next big milestone — and after that, scaling deployments globally. What excites me most is how Malta SEMS can transform existing energy infrastructure. Malta SEMS is more than just energy storage—it’s an integrated clean energy solution that powers industries, data centers, and cities, stabilizes grids, and delivers flexible clean heat and power, cost-efficiently, all in one system. That’s real impact.

 

If you could give one piece of advice to the next generation of women entering clean energy, what would it be?

Don’t let your past define your future. I studied anthropology and public policy — not engineering or finance — but I’ve been able to build companies and lead teams because I stayed curious and embraced learning. The clean energy transition needs all kinds of talent, not just engineers. Whatever your background, there’s a place for you.

 

Current Women is all about amplifying female voices—who is one woman in the industry you admire and would like to nominate for a future feature?

I’m incredibly proud to work alongside three phenomenal women on Malta’s Board of Directors: Alexandra Pruner, Kendra Rauschenberger, and Jeannine Sargent. Their strategic vision, expertise, and leadership have been invaluable to Malta’s growth.

 

 

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